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SEGMENT INFORMATION (Tables) | 12 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of Segment Information |
| Fiscal year ended
| September 30, 2025 |  | September 30, 2024 |  | September 30, 2023
(in thousands) | External Net Sales |  | Inter- segment Sales |  | Adjusted EBITDA |  | External Net Sales |  | Inter- segment Sales |  | Adjusted EBITDA |  | External Net Sales |  | Inter- segment Sales |  | Adjusted EBITDA
Electrical | $ | 1,998,209 |  |  | $ | 10 |  |  | $ | 330,512 |  |  | $ | 2,354,958 |  |  | $ | 20 |  |  | $ | 728,341 |  |  | $ | 2,675,050 |  |  | $ | 25 |  |  | $ | 1,004,853 |
Safety & Infrastructure | 852,169 |  |  | 1,200 |  |  | 109,191 |  |  | 847,095 |  |  | 1,982 |  |  | 89,982 |  |  | 843,711 |  |  | 447 |  |  | 103,231 |
Eliminations | — |  |  | (1,210) |  |  |  |  | — |  |  | (2,002) |  |  |  |  | — |  |  | (471) |  |  |
Consolidated operations | $ | 2,850,378 |  |  | $ | — |  |  |  |  | $ | 3,202,053 |  |  | $ | — |  |  |  |  | $ | 3,518,761 |  |  | $ | — |  |  |
The table below presents the reconciliation of net sales from continuing operations to Adjusted EBITDA by segment.
| Fiscal Year Ended
| September 30, 2025 |  | September 30, 2024 |  | September 30, 2023
(in thousands) | Electrical |  | Safety and Infrastructure |  | Electrical |  | Safety and Infrastructure |  | Electrical |  | Safety and Infrastructure
Net Sales | $ | 1,998,219 |  |  | $ | 853,369 |  |  | $ | 2,354,978 |  |  | $ | 849,077 |  |  | $ | 2,675,074 |  |  | $ | 844,158 |
Cost of sales | (1,509,170) |  |  | (670,374) |  |  | (1,448,980) |  |  | (677,224) |  |  | (1,503,555) |  |  | (676,258) |
Selling, general and administrative expenses | (204,062) |  |  | (102,706) |  |  | (220,136) |  |  | (104,135) |  |  | (209,947) |  |  | (84,401) |
Other Segment Items (a) | 45,525 |  |  | 28,902 |  |  | 42,479 |  |  | 22,264 |  |  | 43,281 |  |  | 19,732 |
Adjusted EBITDA | $ | 330,512 |  |  | $ | 109,191 |  |  | $ | 728,341 |  |  | $ | 89,982 |  |  | $ | 1,004,853 |  |  | $ | 103,231 |
(a) Other Segment items include intangibles amortization expense, depreciation expense, interest expense, income tax expense, and other adjustments to the measure of profitability as defined above.
Presented below is a reconciliation of operating segment Adjusted EBITDA to (Loss) Income before income taxes:
| Fiscal Year Ended
(in thousands) | September 30, 2025 |  | September 30, 2024 |  | September 30, 2023
Operating segment Adjusted EBITDA |  |  |  |  |
Electrical | $ | 330,512 |  |  | $ | 728,341 |  |  | $ | 1,004,853 |
Safety & Infrastructure | 109,191 |  |  | 89,982 |  |  | 103,231 |
Total | $ | 439,703 |  |  | $ | 818,323 |  |  | $ | 1,108,083 |
Unallocated expenses (a) | (53,309) |  |  | (46,610) |  |  | (65,956) |
Depreciation and amortization | (124,533) |  |  | (121,018) |  |  | (115,524) |
Interest expense, net | (33,269) |  |  | (35,584) |  |  | (35,232) |
Loss on extinguishment of debt | (795) |  |  | — |  |  | — |
Asset Impairment Charges | (214,386) |  |  | — |  |  | — |
Stock-based compensation | (23,561) |  |  | (20,300) |  |  | (21,101) |
Transaction costs | (291) |  |  | (140) |  |  | (968) |
Gain on purchase of business | (6,243) |  |  | — |  |  | — |
Loss on assets held for sale | (257) |  |  | (733) |  |  | (7,477) |
Other (b) | (1,649) |  |  | (6,701) |  |  | (11,535) |
(Loss) Income before income taxes | $ | (18,590) |  |  | $ | 587,237 |  |  | $ | 850,290 |
(a) Represents unallocated selling, general and administrative activities and associated expenses including, in part, executive, legal, finance, human resources, information technology, business development and communications, as well as certain costs and earnings of employee-related benefits plans, such as stock-based compensation and a portion of self-insured medical costs.
(b) Represents other items, such as inventory reserves and adjustments, loss on disposal of property, plant and equipment, release of indemnified uncertain tax positions, gain on purchase of business, loss on assets held for sale (includes loss on assets held for sale in Russia. See Note 12, “Goodwill and Intangible Assets” for additional information), realized or unrealized gain (loss) on foreign currency impacts of intercompany loans, impairment charges, related forward currency derivatives, transaction and restructuring costs.
| Capital Expenditures |  | Total Assets
(in thousands) | September 30, 2025 |  | September 30, 2024 |  | September 30, 2023 |  | September 30, 2025 |  | September 30, 2024 |  | September 30, 2023
Electrical | $ | 56,521 |  |  | $ | 92,682 |  |  | $ | 137,485 |  |  | $ | 1,456,834 |  |  | $ | 1,773,937 |  |  | $ | 1,715,419 |
Safety & Infrastructure | 34,084 |  |  | 45,758 |  |  | 69,475 |  |  | 721,156 |  |  | 769,527 |  |  | 753,821 |
Unallocated (a) | 16,503 |  |  | 11,421 |  |  | 11,928 |  |  | 673,932 |  |  | 477,939 |  |  | 465,769 |
Consolidated operations | $ | 107,108 |  |  | $ | 149,861 |  |  | $ | 218,888 |  |  | $ | 2,851,922 |  |  | $ | 3,021,403 |  |  | $ | 2,935,009 |
(a) Unallocated includes corporate assets primarily consisting of cash, corporate prepaids and fixed assets and income tax-based assets
The Company’s long-lived assets and net sales by geography were as follows:
|  | Long-lived assets |  | Net sales
(in thousands) |  | September 30, 2025 |  | September 30, 2024 |  | September 30, 2023 |  | September 30, 2025 |  | September 30, 2024 |  | September 30, 2023
United States |  | $ | 681,948 |  |  | $ | 756,108 |  |  | $ | 612,066 |  |  | $ | 2,501,481 |  |  | $ | 2,817,844 |  |  | $ | 3,150,143 |
Other Americas |  | 8,253 |  |  | 9,168 |  |  | 8,655 |  |  | 80,380 |  |  | 92,361 |  |  | 94,064 |
Europe |  | 53,300 |  |  | 55,907 |  |  | 52,498 |  |  | 220,803 |  |  | 245,764 |  |  | 228,885 |
Asia-Pacific |  | 7,445 |  |  | 11,566 |  |  | 6,569 |  |  | 47,714 |  |  | 46,084 |  |  | 45,669 |
Total |  | $ | 750,946 |  |  | $ | 832,749 |  |  | $ | 679,788 |  |  | $ | 2,850,378 |  |  | $ | 3,202,053 |  |  | $ | 3,518,761 |
The table below shows the amount of net sales from external customers for each of the Company’s product categories which accounted for 10% or more of consolidated net sales in any of the last three fiscal years:
| Fiscal Year Ended
(in thousands) | September 30, 2025 |  | September 30, 2024 |  | September 30, 2023
Metal Electrical Conduit and Fittings | $ | 455,678 |  |  | $ | 551,753 |  |  | $ | 529,083 |
Plastic Pipe Conduit and Fittings | 673,622 |  |  | 921,587 |  |  | 1,252,422 |
Electrical Cable and Flexible Conduit | 494,011 |  |  | 489,927 |  |  | 506,994 |
Other Electrical products (a) | 374,898 |  |  | 391,691 |  |  | 386,551 |
Electrical | 1,998,209 |  |  | 2,354,958 |  |  | 2,675,050 |
Mechanical Tube | 306,637 |  |  | 352,707 |  |  | 367,730 |
Other Safety & Infrastructure products (b) | 545,532 |  |  | 494,388 |  |  | 475,982 |
Safety & Infrastructure | 852,169 |  |  | 847,095 |  |  | 843,711 |
Net sales | $ | 2,850,378 |  |  | $ | 3,202,053 |  |  | $ | 3,518,761 |
(a) Other Electrical products include International Cable Management, Fiberglass Conduit and Corrosion Resistant Conduit.
(b) Other S&I products include Metal Framing and Fittings, Construction Services, Perimeter Security and Cable Management.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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